joe lavorgna on deck to talk about the state of our banks and economy. michael saylor is scooping up bitcoin that it will rise, 900%. i have that and much more on "making money." ♪. charles: huge, huge week for the market. i got to tell you. it was a little dicey there, let's all admit it. let's talk about some of the things we talked about all year long. let's start with seasonality, right? the blue line is the average year. we were moving along pretty good. we have to admit right there a week or so ago we were wondering if this sort of relationship had been busted. looks like we're back on track right now. seasonality is in our favor. you know what i found intriguing? this is the last week. everything went up, right. i mean everything was huge but look at the winner, the best performing. small cap value. when was the last time we've seen small cap value do very well. here is the good news. still combing in today, small cap value down for the year. if you're looking for cheap opportunities, finally, maybe that is your place to be. let's talk about this

your two buddies, joe lavorgna and kenny polcari -- [laughter] charles: again! liz: they're so good at gauging the markets. we have a huge hour ahead with a lineup of bests to give you extremely important insight on, quite frankly, the biggest stories occurring right now. number one, the rally, well, it's still up. for a second it was losing steam, but the bulls and bears have been in this pitched battle all day long. much of the action driven by four, and this is key, four voting members of the federal reserve who were out and about speaking on various top thetics all day today, but the markets initially seized on two of them. right now the dow jones industrials is up 95 points, but at the open you can see, the far left side of the intraday picture here, the dow dropped. not by much, but at 10:37 a.m. eastern time, you see that sharp spike p. it was the same if you look at the s&p and the nasdaq intraday. the reversal sent stocks into the green. the s&p at one point climbed as much as a 7 points. we are up 2 right now -- 17 points. but as we look at the nasdaq,

let's bring in former white house chief economist, smbc chief economist now, joe lavorgna.this stuff is like, this is real life stuff, right? this is when you see the polls, ah, current administration give them 32%. this, when you watch financial television they're like, oh, the consumer has never been stronger. i hate that they do the aggregate thing. throw someone with a billion dollars in with 10 people with 70 grand, making 70 grand a year. >> why profits and profit margins are high as well. price is up, nominal terms you have really strong reads. same thing with consumer spending. we inflation adjust, the nominal numbers look even better. inflation is a big problem, charles. why if you look at the university of michigan consumer sentiment data, one of the 10 components in the leading index of indicators why it has at recession level reads for a while, people are seeing significant compression in their wages. real wages are down 1% at an annual rate since january 2021. that's why even though the labor market appears tight still, people have a job, they're getting squeez

this is an incremental move towards not hiking, again i think the market likes it that way, joe >> and lavorgnaed has been too tight and this is exactly what you said was going to happen, right? >> i did joe, the thing about it is if you look at the headline inflation rate, it peaked in june of '22. and core cpi peaked in september of '22 that was way before monetary policy got anywhere near restrictive. so if this economy as low as, and it is, then this inflation pressure should moderate even more going forward this is good news. the trend in headline is important, because the fed looks as inflation expectations, so that flat reading that takes that year over year rate down close to 3% is very powerful i don't expect the fed to hike anymore and do expect it to be cutting next year. >> so, kitty, this is good news on inflation does it indicate that in an election year, we might have something that might not be ideal in terms of economic conditions, or do you think that it will be just right, leading up to november >> well, what i would really like to focus on is getting beyond the numbers, so w

your two buddies, joe lavorgna and kenny polcari -- [laughter] charles: again!a lineup of bests to give you extremely impo